"The market research behind BoK’s “CYBY” youth savings product revealed some seemingly contradictory findings. A significant proportion of the 500 youth respondents, approximately 80% of whom were low-income, actually said that they wanted a portion of their money locked away to help them accumulate more savings over the long-term. However, they also said that they needed emergency access to their savings to deal with unforeseen circumstances."
Getting to Know You(th): How Piloting Allowed HFC Bank to Sharpen Its Value Proposition for Young People
"It was clear from the pilot that kids wanted to save – even after the initial three-month restriction on withdrawals had expired, those accounts registered only 7 withdrawals as opposed to 470 deposits in the first three and a half months following the pilot test launch. In this way, said Christine Kwaning, then manager of the Ashaiman branch, the pilot 'gave us an opportunity to know that there are people who desire to save for the future but do not know how to go about it.”
"YouthSave has been making the rounds and sharing insights, updates and lessons learned with others in the field."
By Eric Tyler, New America Foundation
Over the holidays, in an independent supplement to USA Today, the voices of four YouthSave account holders came to the forefront. The special edition was focused on “Investing in Asia”, and the YouthSave participants’ insights were highlighted in a questionnaire. In the piece, two girls and two boys aged 12 to 15 living in Nepal revealed meaningful financial aspirations and captured how saving was important to achieving these goals.